The world of cryptocurrency has seen an significant increase in the number of hardware wallets in recent years. Each promising that digital assets will be secure and safe. Its Ellipal wallet is the latest entrant in this field and hopes to differentiate from its rivals by providing an unrivalled solution. As the use of cryptocurrency is becoming more widespread and more commonplace, the need for safe security for digital asset storage becomes increasingly essential. It is the Ellipal wallet can be described as a gadget that keeps the private key to digital assets off-line, preventing hackers from stealing them from a remote location.
Ellipal, the company behind the hardware wallet is a relatively new player in the market. The company raised $55K via the course of an Indiegogo campaign to finance the development of their product. The website of the company and its online reviews state that their hardware wallet is completely safe, however it is important to note that the hardware wallets of competing businesses such as TREZOR as well as Ledger are also designed in a way that no attacker from outside is able to view your private key. For instance, even if you connect your TREZOR with a compromised device that is infected with viruses your private keys remain safe and secure.
The Ellipal wallet is distinctive in its design. It is completely isolated from any computer or network that is, it doesn’t have wired or wireless connectivity. Instead, it communicates via QR codes using cameras on its rear end. This makes it an extremely secure option as it eliminates the possibility of hackers gaining gain access to private information by an internet connection. However, it’s important to remember that this could mean that the Ellipal wallet is not so user-friendly like other wallets on hardware that connect to a computer for simple transactions.
The Ellipal wallet retails for $149. It is fairly recent to market which means that it isn’t tested in battle yet. This is something potential buyers should be aware of when buying the Ellipal wallet. In comparison, both leading hardware wallet makers today (TREZOR and Ledger) were in business for longer and have an established track record of security.
In terms of support for coin, Ellipal wallet supports a limited number of coins. Ellipal wallet currently supports only a small number of coins, including Bitcoin, Ethereum, Litecoin, along with ERC20 tokens. It is lower than the number of coins supported by its competitors, TREZOR and Ledger, which may be a concern for some buyers. But, the company is currently working on adding the support of more coins in the near future.
In conclusion it is clear that it is clear that the Ellipal wallet has been a new player in the market of hardware wallets and promises that it is 100% secure due to its complete separation from any network or computer. The company behind it is new, and the product hasn’t been tested in battle yet. The Ellipal wallet currently supports only a few coins and its price of $149 is on par with its competitors. Although the idea of a totally separated hardware wallet sounds appealing however, you should consider the history and security measures of other wallets prior to making a decision. The final decision about whether the Ellipal product is worthwhile for the price is entirely up to the user. It’s a safe option with an innovative design, however, it’s not as user-friendly for use like other hardware wallets. It’s also an all-new product available on the market.